CONSTRUCTION Products Holding Company (CPC) participated at the first South Korean-Saudi Business Forum held recently in Seoul. The forum was held in order to strengthen cooperation between the two countries in bilateral direct investment and establishing new, sustainable and commercial nature of industrial joint projects. Faysal Alaquil, CPC Director of Business Development & Head of CSR and official spokesman, headed the CPC delegation.
Addressing the forum during a special session entitled "Mutual Understanding and Cooperation in the Construction Contracting and Engineering Service Fields," Alaquil stressed the importance of such joint meetings, saying “the importance of creating added value for the Saudi economy, create new job opportunities for young people and reduce the unemployment rate comes by such joint ventures with investors from friendly countries which enjoy business experience and management skills.”
He also pointed out that building bridges between the Kingdom and the countries of East Asia is important and the forum between Saudi Arabia and Korea is also an important milestone that will open up opportunities that need to be taken advantage of.
Alaquil furthered said the relations between our two countries will continue to further develop in the years to come, based on their longtime friendship and future-oriented partnership. He affirmed that the multiple partnerships between Saudi Arabia and countries evolving, such as Korea, will enable the Kingdom to transfer from a consumer environment for the products of these countries to the manufactured environment for its products in the Kingdom. “The partnership with Korea would be equal and true, especially since Saudi Arabia is the largest market by far in the Middle East where economy represents approximately 50% of the total GDP of the companies of the Gulf cooperation Council countries,” he said.
The event was launched by the Korean Deputy Prime Minister, Dr. Choi Kyung Hwan, and the head of the Saudi delegation, Tawfiq Al-Rabiah, the Minister of Commerce and Industry, Saudi Arabia. — SG